Xactware Launches New Online ITV Product

 — May 24, 2002 — 

Xactware, Inc. recently announced the launch of its new online tool for the home valuation market, called XactValue Residential(tm). A completely web-based program, XactValue Residential uses component replacement costs from Xactware's restoration cost databases-a standard in the property claims industry-to quickly and accurately value a residential structure.

"We're seeing a lot of excitement in the industry over XactValue Residential because of its use of industry-standard claims data to generate valuations," says Eric Loveland, General Manager of XactSites, the Xactware subsidiary that developed XactValue Residential. "Since insure-to-value data and claims data come from the same source, insurance companies can be assured that their up-front numbers will be in sync with the actual replacement cost in the event of a claim."

This new online ITV tool is built on intelligent component logic that provides consistency and accuracy across a wide range of home sizes and styles. In fact, XactValue Residential can be used to complete valuations for average, large, and even custom homes.

XactValue's sophisticated pricing engine works by building a virtual model of the home behind the scenes. When the user answers a few questions about the home, the program compiles component pricing for the materials and labor needed to build each part of the described structure. Users can then "drill-down" to any level of detail they desire to change qualities, adjust component assumptions, or add more information.

"In recent customer experiences, users were surprised by the simplicity and ease-of-use of XactValue Residential," says Jim Evans, Vice President of Operations. "To our knowledge, there isn't another program like it on the market."

Why should an ITV program be Internet-based? Perhaps the biggest advantage is that pricing data, the basis for any valuation, can be continuously updated. Valuations can also be stored online for easy and convenient access. Another benefit is that you are assured of having the latest program version, with no need for upgrades and maintenance. With such an overwhelming percentage of the insurance industry moving more and more of their operations and customer services online, XactValue Residential appears to be a perfect fit.

XactValue Residential runs on any computer with a supported Web browser and Internet connection. For more information on XactValue Residential, call Xactware at 1-800-424-9228.

About Xactware Inc.

Founded in 1986, Xactware, Inc., is a privately held technology services company (www.Xactware.com), specializing in the property insurance, remodeling, and restoration industries. Xactware's technology tools include software estimating programs for PCs and tablet PCs as well as powerful online systems for replacement cost calculations, estimate tracking, and data trending in real time.